PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Average Rating of "Hold" by Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has been assigned a consensus recommendation of "Hold" from the fourteen analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $36.64.

Several equities research analysts recently weighed in on PTCT shares. Bank of America lifted their price target on PTC Therapeutics from $25.00 to $32.00 and gave the company an "underperform" rating in a research report on Friday, June 21st. The Goldman Sachs Group boosted their target price on PTC Therapeutics from $18.00 to $32.00 and gave the stock a "sell" rating in a report on Tuesday, May 28th. Jefferies Financial Group lifted their price target on PTC Therapeutics from $35.00 to $46.00 and gave the stock a "buy" rating in a research report on Monday, May 20th. Citigroup upped their price target on PTC Therapeutics from $18.00 to $26.00 and gave the company a "sell" rating in a report on Tuesday, May 21st. Finally, UBS Group assumed coverage on PTC Therapeutics in a research note on Monday. They issued a "buy" rating and a $47.00 price target on the stock.

PTC Therapeutics Trading Up 2.2 %

Shares of NASDAQ:PTCT traded up $0.76 during trading on Monday, reaching $34.91. 433,058 shares of the company traded hands, compared to its average volume of 887,236. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -4.55 and a beta of 0.65. The business's fifty day moving average is $33.06 and its 200-day moving average is $31.56. PTC Therapeutics has a 52-week low of $17.53 and a 52-week high of $41.93.

Insider Buying and Selling at PTC Therapeutics

In related news, CFO Pierre Gravier sold 2,269 shares of PTC Therapeutics stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total transaction of $77,191.38. Following the transaction, the chief financial officer now owns 53,531 shares in the company, valued at $1,821,124.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 5.50% of the stock is owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its stake in PTC Therapeutics by 40.5% during the first quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company's stock worth $106,744,000 after purchasing an additional 1,057,223 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of PTC Therapeutics by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 8,800,843 shares of the biopharmaceutical company's stock worth $242,551,000 after purchasing an additional 855,354 shares in the last quarter. Armistice Capital LLC increased its stake in PTC Therapeutics by 11.6% during the 4th quarter. Armistice Capital LLC now owns 6,864,000 shares of the biopharmaceutical company's stock worth $189,172,000 after buying an additional 714,000 shares during the period. Norges Bank purchased a new position in PTC Therapeutics in the 4th quarter valued at approximately $15,058,000. Finally, Wellington Management Group LLP grew its stake in shares of PTC Therapeutics by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 9,816,603 shares of the biopharmaceutical company's stock worth $270,546,000 after acquiring an additional 380,415 shares in the last quarter.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.